Fintel reports that on May 17, 2024, JP Morgan upgraded their outlook for Bath & Body Works (NYSE:BBWI) from Underweight to Neutral.
Analyst Price Forecast Suggests 6.99% Upside
As of May 8, 2024, the average one-year price target for Bath & Body Works is 52.37. The forecasts range from a low of 42.42 to a high of $68.25. The average price target represents an increase of 6.99% from its latest reported closing price of 48.95.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Bath & Body Works is 8,323MM, an increase of 12.03%. The projected annual non-GAAP EPS is 4.55.
What is the Fund Sentiment?
There are 1,087 funds or institutions reporting positions in Bath & Body Works. This is an decrease of 15 owner(s) or 1.36% in the last quarter. Average portfolio weight of all funds dedicated to BBWI is 0.21%, an increase of 2.28%. Total shares owned by institutions decreased in the last three months by 0.56% to 235,778K shares. 
The put/call ratio of BBWI is 2.21, indicating a bearish outlook.
What are Other Shareholders Doing?
Third Point holds 12,850K shares representing 5.71% ownership of the company. In its prior filing, the firm reported owning 13,850K shares , representing a decrease of 7.78%. The firm decreased its portfolio allocation in BBWI by 9.04% over the last quarter.
T. Rowe Price Investment Management holds 11,810K shares representing 5.25% ownership of the company. In its prior filing, the firm reported owning 11,748K shares , representing an increase of 0.53%. The firm increased its portfolio allocation in BBWI by 9.63% over the last quarter.
Lone Pine Capital holds 9,768K shares representing 4.34% ownership of the company. In its prior filing, the firm reported owning 10,449K shares , representing a decrease of 6.97%. The firm decreased its portfolio allocation in BBWI by 1.17% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,168K shares representing 3.19% ownership of the company. In its prior filing, the firm reported owning 6,776K shares , representing an increase of 5.47%. The firm increased its portfolio allocation in BBWI by 20.71% over the last quarter.
Price T Rowe Associates holds 7,133K shares representing 3.17% ownership of the company. In its prior filing, the firm reported owning 7,271K shares , representing a decrease of 1.93%. The firm decreased its portfolio allocation in BBWI by 48.44% over the last quarter.
Bath & Body Works Background Information
(This description is provided by the company.)
Bath & Body Works is one of the world’s leading specialty retailers and home to America’s Favorite Fragrances® offering a breadth of exclusive fragrances for the body and home, including the #1 selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. For more than 30 years, customers have looked to Bath & Body Works for quality, on-trend products and the newest, freshest fragrances. Today, these fragrant products can be purchased at more than 1,750 company-operated Bath & Body Works locations in the U.S. and Canada, and more than 300 international franchised locations, as well as on bathandbodyworks.com.
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This story originally appeared on Fintel.
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